Money: Loose change

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The Independent Online
Premier Equity Protector offers investors worried about a possible slump in share prices an investment in the stock market which pays no income but returns up to 190 per cent of any rise in the FTSE 100 index in any three-month period but limits losses to 2 per cent. Gains roll up offshore and are taxed as income on withdrawal. The return is secured by a combination of interest in bank deposits and trading in options on the stock market. The minimum investment is pounds 5,000, there is an initial charge of 5 per cent and an annual charge of 1.5 per cent. Call 0800-212577 for details or ask an IFA.

If you have pounds 10,000 you can get 6.50 per cent gross paid annually or 6.31 per cent paid monthly on a 30-day notice postal account with First National Building Society in Guernsey, Rates rise to 6.75 per cent on pounds 250,000.

Yorkshire Building Society is offering two new mortgages, one a variable rate (currently 6.59 per cent) which cannot exceed 7.99 per cent in the first five years, with an arrangement fee of pounds 250 and an early redemption penalty of 4.5 per cent within six years; the other a discount of 0.6 per cent a year for five years, with a redemption penalty of 3.5 per cent within six years.

Leeds & Holbeck has increased rates on its postal accounts to 5.70 per cent for pounds 10,000 and 6.1 per cent on pounds 50,000.

General Accident Direct is adding up to pounds 2,000 of continental breakdown cover and ski cover to its Travelbond policies. Premiums range from pounds 22.07 for 10 days and pounds 34.48 for 22 days to pounds 64.29 for an annual policy. Call 0800 121007.

Bradford & Bingley offers general or single company PEPs investing in any of the top 100 shares. The annual management charge is 0.5 per cent, but there is no initial deduction, and purchase fees are fixed at 0.25 per cent. Call 01274-555700.

Jupiter is launching a unit trust investing in Investment Trusts, aimed at undervalued funds trading on heavy discounts. Minimum investments is pounds 1,000 lump sum or pounds 100 a month in a PEP. Call 0171 412-0703 for details.

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